Split Of Teacher’s Pension Cost Approved

Last week the Maryland General Assembly, in special session, approved a gradual shift of the cost of teacher’s pension from the state to local governments. As part of the overall budget package, legislators approved by a vote of 86-51 what amounts to a 50-50 split of teacher pension costs with local governments. The split will be phased in over the next four years beginning July 1 with the new budget year. One state leader strongly opposed to the idea is Comptroller Peter Franchot who says he views it as a clear case of the state shirking its fiscal responsibilities and burdening local governments at a time they can least afford any additional financial hits…